No finance or tech jargon—just a simple guide so anyone can understand and use it.
Think of it like a group savings plan: everyone saves together, and each month one person gets the full amount when they need it.
A chit fund is a group of people who agree to save a fixed amount every month. Each month, one person gets the whole pot (the total collected that month). If you need the money early, you can "bid" to be that person. If you don’t need it yet, you keep saving and earn a small extra when others bid. No bank loans, no complex terms—just group savings with clear rules.
From joining to receiving your money—everything in plain language.
Pick a chit group that fits your goal—for example, ₹1 lakh over 20 months. You join with a fixed number of people (e.g. 20 members). No complicated forms.
Every month everyone in the group pays the same amount (e.g. ₹5,000). This builds the total pot. You just pay on time—we remind you.
Each month there’s a bidding round. If you need the lump sum now (for a wedding, business, etc.), you can bid by saying how much discount you’re okay to give. The person who bids the highest discount wins that month’s pot.
The winner receives the month’s total amount (minus a small discount). They get the money in their account. They don’t bid again but keep paying their monthly amount until the group ends.
The "discount" from the winner is shared among the rest of the members. So even if you don’t win, you get a small extra amount back each month—like a bonus on your savings.
Every month: everyone pays, one person wins the pot, others get their share of the discount. This repeats until every member has had a chance to win once. Then the group closes.
You focus on saving and bidding; we handle the rest.
You don’t need to understand this to use ChitFund Pro. We mention it only so you know we take security seriously.
We use secure digital systems (blockchain and smart contracts) so that every payment and bid is recorded and can’t be changed later. No one person can alter the rules or take the money. Bidding and payouts run by fixed rules that everyone can trust. Think of it like a locked, transparent box: everyone can see what’s inside, but only the agreed rules can move the money.
Ready to start? Browse groups and join one that fits your goal.
Browse chit groups